Binance and Pantera Capital backed Injective Protocol, a Digital Assets Derivatives Exchange for DeFi, Launches New Software Solution

The developers of Injective Protocol, a “fully” decentralized layer-2 digital assets derivatives exchange protocol powering cross-chain trading and (decentralized finance) DeFi, has released a new software version: Injective Solstice V2. As reported earlier this year, Injective Protocol had acquired $2.6 million in capital through a seed funding round.

According to the Injective Protocol development team, this update comes with several important (user interface) UI and backend upgrades that could lead to “a far superior trading experience for everyone.”

After working on their first public release for several months, the Injective team launched the Solstice testnet on November 30, 2020. This was reportedly met with a lot of community “enthusiasm.”

During the past few days, the Injective Protocol developers have reported seeing their testnet waitlist grow with many users trying to gain early access “on a daily basis.” The Injective developers claim they’ve managed to reach the daily testnet cap limits in “under an hour every single day since the inception of Solstice.” The interest to get early access increased after gold synthetic commodities were added on Injective.

After obtaining feedback from users, the Injective team claims they’ve integrated various metrics for every request made on their UI, while recording any error that their users might have encountered — allowing them to quickly intervene and “rectify problems with ease.”

The Injective Protocol team wrote in a blog post:

“We have … exceeded … our initial goals and [now] share with you Solstice V2, which provides a [good] trading experience for everyone. We have managed to surpass every exchange in the market today, … integrating the best features from centralized exchanges while retaining a dynamic decentralized backend.”

Injective Protocol claims to be the first layer-2 “decentralized” (or non-custodial) exchange protocol that aims to unlock the potential of decentralized derivatives and “borderless” DeFi solutions. Injective Protocol “enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing.”

Injective Protocol is backed by Pantera Capital, which is a well-known VC firm. Digital asset exchange Binance has also been supporting the development of Injective’s crypto trading solutions.

The Injective team also confirmed that they’ll be listing Keep3r on the Solstice testnet.

They noted:

“Starting from Day 9 of Solstice, all early access users will be able to trade KP3R perpetual markets with up to 20x leverage. Keep3r Network is an Ethereum based decentralized job-matching platform, connecting external keepers with various jobs. ‘Job’ refers to any extensive off-chain task, while ‘keeper’ refers to an external person or team performing the job and executing its contract. Keepers have the freedom to set up DevOps, build infrastructure, and create their own rules. Both Keep3r and Injective share the same goal to further expand innovations in the DeFi sector.”

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